Will the bank give me a “No Dues” certificate

Answer

A:

Yes, banks generally issue a “No Dues Certificate” (NDC) or “No Objection Certificate” (NOC) once you have fully repaid your loan or cleared your outstanding dues. Here’s what you should know:

---

1. What is a No Dues Certificate?

• It is an official document issued by the bank confirming that you have fully paid your loan and have no outstanding liabilities against the account.

• This certificate protects you from any future claims or liabilities related to that loan.

---

2. When Can You Get It?

• After complete repayment of the principal amount, interest, and any other applicable charges.

• Sometimes banks may take a few days or weeks to process and issue the certificate.

---

3. Why is it Important?

• It acts as proof that you have fulfilled your financial obligation.

• Essential for removing any lien or hypothecation mark on your property or assets (in case of secured loans).

• Needed for maintaining a clean credit record.

---

4. How to Obtain It?

• Request the certificate from the bank’s loan department after loan closure.

• Follow up regularly if there is a delay in issuance.

• Some banks provide it automatically after loan closure, while others require a formal written request.

---

5. What to Do If Bank Delays Issuing the Certificate?

• Send a written request or legal notice reminding the bank of your repayment and demand issuance of the certificate.

• You can escalate the matter to the Banking Ombudsman or consumer court if the bank refuses or delays unjustifiably.

---

6. How Legal365 Can Assist You

• Guide you in formally requesting the No Dues Certificate.

• Help draft legal notices if the bank delays or refuses to issue the certificate.

• Represent you before authorities for speedy resolution.

---

Need Help Getting Your No Dues Certificate?

 Visit: www.legals365.com
 Call: +91 9625961599

Advocate B.K. Singh and the Legal365 team are here to ensure your loan closure process is smooth and legally sound.

.